Archive for April, 2007
Wednesday, April 25th, 2007
Yes We Did It!
While we missed the articles below at the time of their release, they remain very enlightening.
skynews - Tuesday March 20, 2007
Bank Of England Takes Property Blame - The group that decides the interest rate deliberately fuelled a consumer boom to boost house prices and personal debt so that “UK Plc” could avoid recession. Former governor Edward […]
No Comments » - Posted in News by Sharon Kayser
Wednesday, April 25th, 2007
Let’s Talk About The SEC’s Negligence
First several “eye popping” background articles:
April 24 (Bloomberg)
Bond investors who financed the U.S. housing boom are starting to pay the price for slumping home values and record delinquencies in subprime loans… They will lose as much as $75 billion on securities made up of millions of mortgages to people with poor credit, says Pacific Investment […]
1 Comment » - Posted in News by Sharon Kayser
Wednesday, April 25th, 2007
Real Data Versus Spin
On the the USAtoday front page today one could get a sense of the outrage: property taxes up as house prices fall…
… Despite the downturn, the market value of millions of homes still exceeds their assessed value used for tax purposes. “Some people are irritated to learn the news,” says Jim Todora, a property tax assessor in Sarasota County, […]
No Comments » - Posted in News by Sharon Kayser
Monday, April 23rd, 2007
Which Booming Economy?
This April 21st, 2007, a headline read: factory jobs: 3 million lost since 2000. And it is not all. Further the article says:
Princeton economist Alan Blinder, who was vice chairman of the Federal Reserve during the Clinton administration, says the number of jobs at risk of being shipped out of the country could reach 40 […]
1 Comment » - Posted in News by Sharon Kayser
Monday, April 23rd, 2007
No Bailout
The Wallstreeters are back their favorite habit: speculation especially since they heard that Congress was analyzing a subprime bailout. The housing market being the pillar of the economy, this must have influenced quite much the Dow, which appraoched the 13,000 benchmark amid a rare euphoria. But the bailout talks took place last week. And now it seems that the […]
No Comments » - Posted in News by Sharon Kayser
Sunday, April 15th, 2007
Save public from drowning in red ink!
Save public from drowning in red ink urges Robert Manning who is a research professor and director, Center for Consumer Financial Services, Rochester Institute of Technology and involved with In Debt We Trust.
While we second this cry for help at stopthesqueeze.org, we ought keep in mind that exposing predatory lending in America is just about […]
No Comments » - Posted in News by Sharon Kayser
Sunday, April 15th, 2007
A Billionaire Bailout
The definition of “altruism” can be stretched for the best and the worst. And when it goes over really big bucks, we shouldn’t be surprised to find out that it is often for the worst. In this particular case it is useful to remember that last December marked a record year in term of Wall […]
1 Comment » - Posted in News by Sharon Kayser
Friday, April 6th, 2007
The Pursuit Of So-Called Ownership
As a matter of fact we ought to support free trade. That’s what made America great after all. But when economies can only prosper with a debt boom, what are the chances to have efficient international and national trade policies do you think?
Debtism has not only taken hold in the US but everywhere around the […]
